John Hussman shows why US corporate earnings are now experiencing significant downward pressure, at a time when expected long term returns on US equities are already very poor.
https://www.hussmanfunds.com/wmc/wmc131216.htm
Tax-Efficient Investing: How the Right Strategy Saves You Hundreds of Thousands
Effective compounding and tax minimization are not competing goals. They reinforce each other. The discipline that drives superior long-term compounding uses aggressive risk management to minimize drawdowns and so also
